Being able to purchase a home is often tied to how much of a down payment you have saved. If you have never bought a house before, you may not understand what a down payment is or why it is so important. Here’s the basics you need to know as you save up for your first home.
A down payment is a portion of the purchase price paid up front to your mortgage lender. It is very important to lenders because it shows them you are serious about the purchase and committed to paying off your loan.
How Down Payments Affect Your Mortgage
The size of your down payment can affect your mo...

If you are a military veteran or are currently serving active-duty, there is an incredible mortgage loan available to you through the Department of Veterans Affairs – the VA loan. VA mortgages are made through regular lenders but backed by the Department of Veteran Affairs, reducing the risk to the lenders themselves. Here are the top 4 reasons you should look into buying a home with a VA loan:
Lower Interest Rates
VA mortgage loans were designed to give veterans a leg-up in the home buying process as a way to thank them for their service. One of the loan perks is that the interest...